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Dean Foods Company Message Board

deshrex 8 posts  |  Last Activity: May 5, 2016 9:41 PM Member since: Jun 16, 1998
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  • deshrex deshrex May 5, 2016 9:41 PM Flag

    Buying them in at 1/3 sales is a pretty good deal, courtesy of Wall Street antipathy to this sector...

  • Reply to

    Byrne takes a Medical leave -

    by hagmansliverversionss Apr 11, 2016 7:24 AM
    deshrex deshrex Apr 14, 2016 12:17 PM Flag

    Well, everyone is entitled to their opinions. He wouldn't have won a settlement if there had been no substance at all to his legal case. I have always been more interested in the question of market mechanics than any opinions JB may have been giving voice to at Deep capture, tho some posters there have been quite learned on the technical details of market functioning. If you think markets are squeaky clean, you might be interested in Zero Hedge's lead article today on alleged price fixing in the silver market...

  • Reply to

    Byrne takes a Medical leave -

    by hagmansliverversionss Apr 11, 2016 7:24 AM
    deshrex deshrex Apr 13, 2016 7:38 PM Flag

    Wall Street rewarded his one man crusade with a complete lack of coverage of OSTK. Yahoo lists just one analyst covering the stock, and the estimate is stale and out of date. I think PB has said that he spent $30 million in legal fees, and got in return a legal settlement of roughly the same amount. I salute the attempt, but the fact is it's very hard to go against the Wall Street - regulatory system...

  • Reply to

    Material Weakness

    by eduinvestor Apr 1, 2016 6:47 PM
    deshrex deshrex Apr 4, 2016 9:09 PM Flag

    I'm not sure how much of a big deal this 'material weakness' is. I think the weakness has to do with how PEAKS trust Senior Debt has been calculated since the inception of the trust. As you probably know, ESI spent tremendous time and effort a year or two ago bringing the PEAKS and CUSO trusts onto its own books. This number for PEAKS Senior Debt was reported as $66 million, as of 12/31/15 (down from $300 million, at the inception). See p. 64 of the 2015 10-K. Do you think PEAKS Senior Debt is in fact a number 'materially' higher than $66 million? I am sure the debt holders themselves know how much debt is outstanding. They would be making their displeasure loudly known, I am sure, if any kind of principal or interest payment allowed under trust rules had been missed...

  • $144 million April 2016 maturity has been repaid in full. See Friday's 8-K notice. Now no maturities are outstanding before 2020, I am pretty sure. Just worth mentioning because bears flogged this 2016 maturity for all it was worth a year or so ago...

  • deshrex deshrex Mar 29, 2016 2:44 PM Flag

    There's always going to be a big short position due to the large debt outstanding and related debt arbitrage - i.e. people who are tempted to go long the debt may do the related trade of shorting the common. But meanwhile I hope WTW tells us if and when the April '16 maturity is paid off at par and closed. WTW will still have a lot of debt, but getting this monkey off our backs will be a step in the right direction...

  • Reply to

    exactly as I thought

    by alex_iff Mar 15, 2016 11:31 AM
    deshrex deshrex Mar 16, 2016 12:19 PM Flag

    EDU please see the earnings release. ESI estimates their 2016 PEAKS and CUSO obligations to be in the range of $27 million. And according to the release of 3/14/16, the 2017 and 2018 obligations are each in the neighborhood of $13 million. Also remember that when ESI puts money into the trust, it gets to claim the trust loans as an asset, but what the recovery rate on the loans will be I don't know...

  • Reply to

    $ 130 millions in cash is huge!!!

    by mondaynighttrader Mar 14, 2016 4:56 PM
    deshrex deshrex Mar 14, 2016 9:44 PM Flag

    PEAKS and CUSO debt together down to just $165 million as of Q4 2015. According to the release, ESI will pay about $27 million in 2016 towards PEAKS and CUSO. Could it be that the shorts will have to give up flogging this particular dead horse?

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